Gnocchi, Stefano; Lagerborg, Andresa; Pappa, Evi - In: Journal of Economic Dynamics and Control 51 (2015) C, pp. 299-317
Using panel data of 19 OECD countries observed over 40 years and data on specific labor market reform episodes we conclude that labor market institutions matter for business cycle fluctuations. Spearman partial rank correlations reveal that more flexible institutions are associated with lower...